Johnson & Johnson Tylenol Crisis Essay Example for Free

Johnson Johnson Tylenol Crisis Essay Johnson Johnson had manufactured Extra-Strength Tylenol in capsule and tablet form since 1959. Tylenol became one of Johnson Johnson’s most successful products, accounting for 17 percent of the company’s profits. Extra-Strength Tylenol constituted 70 percent of all Tylenol sales. Johnson Johnson also enjoyed a tremendous amount of trust and goodwill from the public, nurtured in part by its adherence to the company credo of responsibility to customers, employees, shareholders, and the community. In 1982, seven people in the Chicago area died after taking Extra-Strength Tylenol capsules that were laced with cyanide. After this incident, the CEO of Johnson Johnson was faced with very serious, important decisions; should he recall only the extra strength Tylenol in Chicago or nationwide? He was also concerned that this incident would forever ruin the Tylenol name, even after the investigation, proved that the tampering did not occur within the company. I would have advised the CEO of the company to make a public announcement, assuring the pubic that these cases were isolated to the Chicago area, that this was by no way caused by the negligence of Johnson Johnson employees. Also, he would need to state that the company is doing everything possible to ensure that this does not occur again and that they were working closely with the authorities to determine the cause. I would also advise a nationwide recall. I believe that a recall should have been issued for the entire nation. Although this would cause a significant loss for the company, it would save their reputation. It would ensure the customers that the CEO was doing everything possible to protect them, which would help reestablish their trust in the company. If a recall were not issued, people still would not be buying the product and it would sit on shelves for months, even years, because people would always be fearful they would get a bad batch. If a recall were issued, this would not be called into question. The new batches would be issued with a tamper evident seal and there would be no question whether or not they were tampered with again. From an economic point of view, recalling the product resulted in a loss of an estimated $150 million dollars. Legally speaking, recalling the product could have saved Johnson Johnson millions of dollars in law suits not to mention certain laws that they had to abide by through the food and drug administration. Morally, Johnson Johnson did the right thing. They removed their product from store shelves, re-embedded a certain amount of trust in their company and potentially saved many, many more lives. These results do not significantly differ from the decision Johnson Johnson eventually made. Economically, the company suffered for a short period of time, but returned full force after precautions were made to ensure this never happened again, sealing the future of the company, literally and figuratively. The company benefitted from their credo because they stated their responsibilities and what they valued to the public which reinstated a certain amount of trust in the company again. There are other companies since Johnson Johnson that could have used a similar credo, for instance the peanut butter incident and the formula incident (both from a couple years ago). Both of these cases were similar because it involved poisoning of a product. The companies also eventually bounced back from the incident. I believe that the credo had a great deal to do with saving the company brand because it stated all of the main goals and responsibilities of Johnson Johnson. However, I think that developing the tamper-resistant packaging, recalling the product, and distributing over 80 million in coupons also had a great deal to do with it. Without all of these factors though, who knows whether or not the company would have been able to recover from this incident. I believe that Johnson Johnson should not have continued to market the capsule form as soon as it returned to the market. The incident was too fresh in the publics’ mind for it to sell as well as it had before the incident. I do however feel that the capsule form should have been reintroduced to the market after a few years. Upon discovering that there was another death three years later from a similar incident, I would advise the company to ensure that this death was not from the previously recalled batch. Also, since this incident was isolated to one person, it would seem that someone tampered with that particular bottle. With all of the new tamper-resistant packaging it would be nearly impossible for someone to poison a bottle with it going unnoticed. However, I would advise the CEO of Johnson Johnson to inform the public of the incident instead of trying to conceal it. I would be much more interested in purchasing a product from an honest company than one who hides mishaps.

User centred design | Analysis

User centred design | Analysis Introduction Nowadays, User Centered Design has been embedded in many design works. This essay seeks to explore the nature of this approach. This essay is split in to four sections. The first section is to provide a definition for User Centered Design while the second section will explain the benefits of using this approach with examples. I will then move on to discuss the limitations of User Centered Design and a conclusion will come afterwards. What is User Centred Design? User Centred Design is an approach which aims at increasing the usability of products, and therefore making them more effective in meeting users needs. This approach requires the designer to focus on the users throughout The planning, design and development of the product. (UPA resources, no date) Norman (1999) described user centred design as Transforming difficult tasks into easy ones. It requires the designer to study the users before designing. User Centred Design approach often requires a great deal of involvement from the users during the process. Carrying out this approach often includes collecting end users opinion right before the start of the project, as well as during the design process, and designing with them. The objective of this is to allow the designers to have a good understanding of the subjects who will use the product. Therefore, good interaction between designers and users is the key under this approach. UCD is widely recognized and there is an international standard which serves as a benchmark and a guideline. International standard ISO 13047:Human-centered design process outlines the 5 stages of a typical UCD design, which are identifying need for human centered design, specifying the context of use, specifying requirements, creating design solutions and evaluating designs. (UPA Resources, no date) These steps define only general procedures but not exact methods. In fact, these standards do not outline how each phrase should be carried out. For instance, specifying the context of use can be done by surveys, observations, interview and many other methods. Advantages of User Centred Design Norman (1999) first suggested UCD is essentially a series of procedures that simplifying difficult tasks through exploiting natural properties of people and of the world, simplifying the structure of tasks, making both execution and evaluation sides of an action visible, exploiting natural constraints and designing for error. Aesthetics is not considered as a need in his original definition of UCD. Needs of end-users in study during a UCD process should not be only those associated with functions of a product, but also users unexpressed needs including, but not limited to, needs for aesthetics. Norman (2004) introduced three levels of user centered design namely Visceral design, Behavioral design and Reflective design. Visceral design is about the appearance of the product which aims at capturing peoples attention that they would never forget it or replace it with others. A design that people love it when they see it the first time is a successful visceral design. The Muji Bath Radio is essentially a radio which is designed to be used in bathrooms and it fits in with the bathroom with a playful element. This product is designed by Industrial Facility. It is fun only when it gathers with the Muji refillable shampoo bottle, they appear to be a family; the bottle itself and even the label of the shampoo are of the same size with the speaker of the radio. Using it is very straightforward, simply turning the top to adjust the volume and on or off while the AM and FM tuning section is at the bottom. The radio is sealed to ensure it is water resistant to protect the radio due to the environment that it is being used (Fig. 1-3). (Industrial Facility, 2009) Behavioral design is the functional part of a design. The product needs to be functional and easy to use. Norman suggested that even some products are complicated and users need to learn how things works but it should be learnt once only. Apple increased the usability of Mac computers by making the interface of software written for Mac OS similar. Therefore, once the basic controls are learnt, users can manage a variety of software for this system easily and quickly. Another good example would be hook-and-loop fastener which makes tying shoes easier and serves as an alternative to shoelace. It is also a design that focuses on users. Tying a shoelace is an everyday but potentially difficult task for children and infirm adults due to its inherent complexity. Hook-and-loop fasteners simplify tying shoes and provide an easy alternative to shoelaces. Many may argue that this example is not significant but as Norman (1999) suggested; this simple design caters the needs of users and solves the difficulties of a large segment of population. Reflective design is about the message the product gives to the user and the way the product represents the person who uses it. Sometimes people buy a product is not for the physical outcome but the psychological outcome. The main selling point of this type of design is not their functionality but things like prestige that owning the design brings. For instance, People drink Fair-trade coffee may not really concern about the farmers benefit in the third world. They may do so to show to others how kind and generous they are. Nowadays, many businesses have incorporated this ideology into their product range. Creating products which consumers actually need and want often feeds through to higher sales and hence higher profit. Brand image will also be benefitted. One of the key benefits of UCD approach is that it allows designers to attain some level of understanding of the users needs. According to Parsons in Blueprint November 2009 (2009, p.54), before UCD is being widely adopted, designers have to use their experience and knowledge to guess the needs of users. This in turn may create a mismatch between the product and the needs of end-users. UCD ensures efficient use of time and resources. Limitations of User Centred Design However, UCD is by no means a perfect model and may not be the ideal solution in some cases. I am going to illustrate the limitations and disadvantages of UCD in the following paragraphs. UCD is often characterized as time-consuming and costly. Many UCD designers believe that market research is generally not an appropriate way to understand the behavior of the end users. Users may not do what they told market researchers and there are often unexpressed needs such as those associated with attractiveness and aesthetics. For the sake of gaining a full and reliable understanding, UCD designers often observe their users directly such as observing how end-users actually carry out specific tasks. Observing a range of subjects can be expensive and definitely takes a great deal of time as well as effort. However, it is possible these observations are subjected to Hawthorne Effect whereby individuals change their behavior when they know they are observed. (Campbell, Maxey and Watson, 1995) These observations may not be reliable after all. Moreover, end-users may not know what they truly need. They may not know if they really need or desire the product until they actually see it. Therefore, participation of users in the earlier stages may not be too helpful. Furthermore, without the technical background as a professional designer has, what users think might work might not work in practice. Also, too much commitment to satisfy the needs of a particular targeted users group may overly complicate the design which reduces its usability by other users. Norman (2005) suggested that If a user suggestion fails to fit within this design model, it should be discarded. A balance between doing what consumers want and maintaining the usability should be achieved. UCD is an ideology, which is the manifesto of many designers. However, usage of UCD procedures does not guarantee the product is useful for the users. Although there is an international standard which outline the general structure for typical UCD projects, the methods to go about these procedures are decided by the designer. Besides, due to time and budget constraint, designer can only study the behavior of a particular sample. There is again no guarantee the sample is representative for all the targeted users since everyones needs are somewhat different. In addition, the sampling method used directly determines the reliability of these observations. Users needs are influenced by many external factors and hence needs are subject to changes. This is especially the case for visceral design and reflective design, which is subject to changes in the social culture. What is trendy at this moment may not be so in the next. Under UCD, designers spend a long time to gather input from users and encourage them to get involved in the design. By the time the product is produced, users needs may have changed and thus it no longer meets the new needs. There are many examples where products, which have not gone through UCD procedures, are highly successful. Moreover, these products require the users to adapt them, which is exactly the opposite of what UCD is about. (NORMAN, 2009) For instance, chopsticks require the users to learn and adapt them. Learning to use chopsticks can be difficult and there are a couple of new products aiming to replace chopsticks. However, they are still used by a huge segment of the population. Individuals have different preferences and needs. A product aiming to satisfy the needs of one group may in turn compromise the need of another group. Take hook and loop fasteners as an example again, they are not as flexible in the adjustment of the tightness of support as shoelace and versatile. This design is originally targeted to young children, elderly and disabled. As Norman (1999) suggested, hoop and loop fasteners are not used in sports shoes such as football shoes and boxing boots. User centered design does provide a general benchmark to judge the quality of a design upon. However, using this principal as a basis of design may not be beneficial as it limits the creativity of a designer. The following example will illustrate this. The Step is the first unique cooker which extraordinarily holds both gas and induction heat (IH) hobs and it is designed to accommodate a variety of cooking type and level. It is designed by Industrial Facility and produced by KichenAid. It owns three professional gas burners, two induction plates, cast-iron grates, cast-iron grill, solid ergonomic controls with built-in electronic ignition and with a Vitroceramic and stainless surface. The hobs are divided into two levels. The gas hob with the grill is higher and far from the front because it needs to handle heavy pans. The induction heat surface is at the front and is the same level with the worktop and able to provide an extra space for the work. (Industrial Facility, 2009)Gas is always perfect for heavy cooking whereas induction heat is normally for fine cooking and one is not happened to perfectly replace the other. From the user centered design view, in this case, consumers could enjoy cooking without sacrificing either one coo king method. From my point of view, this is neat and modern but after all it is merely a combination of two existing product. Why spend time to work on how to re-design something instead of creating a new cooking technique? You will never know if something works unless you have tried. UCD sometimes prevent designers to start from scratch. It often places too much emphasis on the point tools adapts human which limits the creativity of the designer. In fact, in many cases, needs arise only when a new product launches. For instance, before telephone and SMS messages were launched, people did not know they demanded communication in these forms. Conclusion Finally, I believe every products starting point is human centered. Every single existing product is human centered. We design because we want to improve peoples life by using our products. Every project, we work on the appearance, functionality, and narratives of the design. Although the priority may vary, we design useful products, no matter it physically does the job or psychologically does the job, it definitely have a positive outcome. A design could have been better does not mean it is not a good design. Without a doubt, listening to the end-users opinion is wise and helpful in design in many cases. However, basing our designs solely on what consumers want can be problematic. This is because users often lack the expertise. Having users involved is beneficial but they cannot replace the job of designers. (Parsons, 2009) I believe striking a balance between the two is essential. Bibliography Published Materials Journal CAMPBELL, J., MAXEY, V., WATSON, W.,1995,Hawthorne Effect: Implications for Prehospital Research Annals of Emergency Medicine, Volume 26, Issue 5, Pages 590-594 Books NORMAN, Donald. Emotional Design: Why we hate love (or hate) Everyday things, The MIT Press. 2004 NORMAN, Donald. The design of Everyday things, The MIT Press. 1999 Articles in Periodicals Parsons, Tim. User centred design, through enlightened in theory. Blueprint, November 2009, p.54. Internet Material Bath Radio, Industrial Facility. http://www.industrialfacility.co.uk/if.html, 13 Dec 09. Step, Industrial Facility. http://www.industrialfacility.co.uk/if.html, 13 Dec 09 Human centered design considered harmful, NORMAN, Donald. http://jnd.org/dn.mss/humancentered_design_considered_harmful.html, 13 Dec 09. What is UCD?, UPA Resources. http://www.upassoc.org/usability_resources/about_usability/what_is_ucd.html, 13 Dec 09. Step 90cm, Walter Dix Co. http://www.wdix.co.uk/Products/RangeCookers/KitchenAid/Hobs/Step90cm/tabid/457/Default.aspx, 13 Dec 09.

Surrogate Mothers Essay -- essays research papers

Surrogate Mothers The practice of bearing a child on behalf of another woman. This is surrogate motherhood. Is it considered immoral? By some, yes. In some countries it is banned—and in others it is promoted or up for consideration. In recent days, the issue of "right and wrong" has surfaced in the midst of this argument, sharing different meanings to the opposing sides. To some, it is right only for the woman who brings forth life to raise the child; for it is deemed that she is the only one fit to be the child's mother. Clearly, we must indeed recognize this side of the argument. But to those with that viewpoint, that is the end of the argument. They do not see any reason for the issue to be continued further; rather, to end the debate and declare anyone who disagrees to lack morals or values. But have those who preach this anti-surrogate moralism ever experienced what it would be like to be those on the other side of this issue? Suppose, for a moment, that they were the ones who were incapable of having children. Would they condemn themselves the way that they condemn others if they were in another predicament? It is surely easy to say what one would do in any situation, but one can never know exactly what they would do until that situation comes. How many of you have ever held a small child in your arms and looked into its small eyes and felt the love that you had for it. Perhaps it was a younger sibling, perhaps even a child of your own. You know how much th...

January, 1968: Keh Sanh, The Tet Offensive, and the Unraveling of an A

When President Johnson delivered his State of the Union Address to Congress on January 17, 1968 he spoke of the war in Vietnam with optimism. He listed the many military accomplishments to date, mentioned the word â€Å"progress† five times, discussed a â€Å"fruitful† visit with the pope, and spoke with a tone and tenor that suggested an imminent, peaceful resolution (â€Å"Johnson’s Annual Message†). Not three months later – in a similarly important speech to the American people – Johnson stoically announced that he would not be seeking reelection (â€Å"Johnson’s Address to the Nation†). What had seemed like an impending certainty dissolved into a distant dream. Public support for the war, and of Johnson, had deteriorated so swiftly in the winter of 1968 that he had no choice but to disband his efforts to seek a second term. What happened in the months between Johnson’s confident State of the Union and his more su llen speech in March of 1968 is no mystery. The Battle of Khe Sanh, combined with the more lastingly impactful Tet Offensive in late January, were devastating blows to American efforts in Vietnam. In hindsight, these events may have been militarily ineffective, yet the cultural ricochets they created throughout America can be seen as nothing short of a major victory for the North Vietnamese. These events were instrumental in turning the tides of the war. General Westmoreland’s hope, that superior American firepower would end the war with the North Vietnamese in the winter of 1968 was quickly foiled when U.S. Marines were bombarded with a rocket and mortar attack at their isolated base in Khe Sanh. The 76-day battle at Khe Sanh ended with both sides claiming victory, raising the question of why anyone found it strategic to engag... ...ent Lyndon B. Johnson's Address to the Nation Announcing Steps To Limit the War in Vietnam and Reporting His Decision Not To Seek Reelection: March 31, 1968.† LBJ Library and Musuem: National Archives and Records Aministration. Web. 6 Apr. 2012. . â€Å"President Lyndon B. Johnson’s Annual Message to the Congress on the State of the Union: January 17, 1968,† LBJ Library and Museum: National Archives and Records Administration. Web. 6 Apr. 2012 . â€Å"Shock and Awe of the Tet Offensive Shattered U.S. Illusions.† James H. Willbanks. U.S News. 29 Jan. 2009. Web. 6 Apr. 2012. â€Å"The Battle of Khe Sanh, 1968,† The Tet Offensive, Marc J. Gilbert and William Head, eds., Westport, CT: Praeger, 1996, ch. 12, pp. 191-213. Willibanks, James H. The Tet Offensive. New York: Columbia U P, 2007.

Computerisation in a business like Craven Plc Essay

Plotters: A device designed to produce charts, drawings, maps and other forms of graphical information on paper. The images can be produced by pens, electro-statically, or ink jets. Storage Methods There are two different forms of storage available these are main storage and backing storage. Main Storage: This consists of the Hard disk drive (HDD) and the floppy disk drive. These are storage facilities present within the computer. Information can be saved onto the HDD ready to be opened at some future date. Application software packages and programmes are also stored on the hard disk. The average PC will have an internal HDD of at least 6Gb. The floppy disk drive is another type of main storage. It uses floppy disks to store information in a similar way to a hard drive. Backing Storage: The performance of a computer system can be improved by the addition of more memory. If there is too little memory then more frequent access to the hard disk is required and this will slow down the overall system performance. Therefore many computer applications require quick, direct access to individual records within a file. For this reason, we need backing storage. Backing storage comes in various forms for example compact disks and floppy disks. Backing storage is a portable and convenient way of saving information. To reduce the risk of data loss it is wise to save information on the computers hard drive and make a copy onto a disk or another type of backing storage for insurance purposes. Types of backing storage:   Floppy disks: The most common storage device available, these provide extremely cheap storage and have a capacity of 1. 5 Mb.   Compact Disk (CD-ROM): These have been used for some years as storage devices for computer software. It only accesses information which is already stored on it and is able to store 650 Mb of information.   Zip Drives: A storage device that has become popular over the last few years because it offers the convenience and portability of a floppy disk, combined with a 100 Mb capacity. CD-R and CD-RW:The difference being that CD-R disks can only have data saved to them once, While CD-RW can be used in the same manner as other storage devices having data saved to them on a re-usable basis.   DVD (digital versatile disc) using the same basic principles as the CD, DVD packs the data more densely and can store 4. 7Gb compared with the CD’s 650Mg, can hold 133 minutes of video, with Dolby surround sound. Data pens: A new storage device that plugs into the computers USP drive. These are small and compact and have a capacity of 80Mb. Magnetic Tape: Convenient and cheap medium for backing up hard disks onto computers. Mostly used for mainframe computers for storing information for a long duration. Magnetic tapes will not be suitable for a small company like Craven Plc. Data Protection: Craven Plc must comply with the data protection act in order to hold personal information of customers. The data protection act works in two ways. It gives you certain rights. It also says those who record and use personal information must be open about how the information is used and must follow the eight principles for good handling. The eight principles were put in place to make sure that your information is handled properly. They say that data must be: 1. Fairly and lawfully processed. 2. Processed for limited purposes. 3. Adequate, relevant and not excessive. 4. Accurate. 5. Not kept for longer than is necessary. 6. Processed in line with your rights. 7. Secure, and 8. Not transferred to countries without adequate protection. Micro computers: Micro computers include personal computers and laptop computers, they are usually equipped with hard disk, floppy disk drive, between 1 and 32 megabytes of memory, a keyboard and a VDU unit. Microcomputers will be suitable to fulfil the needs of Craven Plc. Mainframe Computers: These are large systems that can hold vast amounts of data. Mainframe computers occupy a whole floor of a fair sized building. These powerful mainframe computers are present in very large companies storing huge amounts of data on to disk. Mainframe computers cost tens of thousands of pounds, therefore they are not suitable for a small business like Craven Plc. File Server: This is a specially configured microcomputer to control the exchange of files between network users. A file server also has more memory and disk storage than normal microcomputers. These classifications of computers are usually based on physical size, speed, processing capabilities, memory size, disc storage, capacities and cost. Direct and Sequential Access: Direct access devices can go directly to the file or record. For example a CD can go directly to track number 10. Sequential access devices have to run through the file sequentially, for instance, if we want track 10 on a cassette, The cassette moves from the beginning from track 1 to 9 until it comes to track 10. 4) Proposed purchases and prices of equipment 2x Sony Intel 2. 6GHZ DVD CDRW Laptop   256Mb RAM, 40Gb Hard Drive   DVD/CDRW Drive   15 inch TPT screen i 899 each = i 1798 4x Packard Bell 6111 Intel Pentium 42. 8GHZ processor and 15† TFT monitor   Intel P4 2. 8 GHz processor 512 Mb RAM   160 GHb Hard Drive i 1199 each =i 4796 4x PacKard Bell 5050 and Xp2600+ PC and 17† CRT monitor   Athlon Xp 2600 & processor   256Mb RAM. 60 Gb hard Drive i 549 each =i 2196 4x Hewlet Packard DJ 9300 A3 Desktop printer i 279 each =i 1116 3x Hewlet Packard scanner i 99 each =i 396 Network- Windows 2000 professional i 3449 Web Designer Approx 3000to4000 Training costs i 2000 Specialist soft ware – Sage Accounts i 2000 Web Train Video Conferencing i 1000 Total cost i 22751 5) Proposed method of change over from manual to the new computerised systems Before the change over can take place an extensive training programme needs to take place. This may take several months to train the current workforce in the correct operating procedures of the new system. To ensure information will not be lost in transition the old manual method needs to be in place for the first 2 months along side the new computerised system. In the unlikely case of system collapse information and data will still be on hand. This change over will inevitably endure a small cost of training and staff development. 6) Procedure to transfer the payroll from the old to the new system Payroll is something Craven Plc cannot afford to get wrong. Therefore manual systems need to be in place for 3-4 months along side the new computerised sage accounts system. This will again ensure against loss of data.

Computer technology provides learning opportunities for disabled Essay

The rise of online schools or universities paved way for the demand of online and digital materials to facilitate the teaching-learning process. This year, Pearson has contributed to the development of online learning by releasing a program called the Universal Design for Computer-Based Testing Guidelines. In line with universal efforts from members of the academic institution to make learning and education accessible to all, the computer-based testing program was developed in order to allow students to access resources on evaluation, most importantly those with disabilities or handicaps. The project was also supported by the principle in education proving that students learn more efficiently when evaluation or assessment is integrated into the teaching-learning process. This issue appeals to the responsibility of people and organizations working within the computer and technology industry to contribute to the advancement of other areas or fields including education. The introduction of the Universal Design for Computer-Based Testing Guidelines paves way to the improvement of digital instruction that has become prevalent these days. In this way, computer technology not only contributes to the advancement of education but also to the universal accomplishment of efforts concerning equal access to education. Ultimately, this relates to society because it also concerns the right to education. However, I believe the most important thing aside from the existence and development of technologies that facilities widespread access to education is the dissemination of information that would allow numerous people to learn of the available avenues and opportunities for them to afford education. Pearson’s taking advantage of knowledge and information on computer-based evaluation or assessment is an important step in achieving this purpose. Kostek, J. (2009). Guidelines Introducing Making Computer-Based Testing More Accessible. Retrieved 19 Jul 2009, from Technology Marketing Corporation. Website: http://education. tmcnet. com/topics/education/articles/58497-guidelines-introduced-making-computer-based-testing-more-accessible. htm Computer Technology: Last Chance for Heath Care? Due to health crisis in the United States, the government is looking into the possibility of utilizing computer technology in order to resolve the problem. The national government, even before Barack Obama’s administration, has been trying to alleviate problems regarding health care to no avail. The United States government feels that the time has come to take advantage and capitalize on the availability of technology in order to offer a solution to the dreaded health crisis. UnitedHealth Group, an organization that handles health insurance in the country, has established a partnership with Cisco Systems, a leading company in the industry of technology. The two organizations have endorsed telemedicine as a means to address the health care situation in the country. Ultimately, the program targets populations that do not have access to health care, specifically those in remote areas with limited available services. This relates to the benefits and contributions of computer technology not only to the field of health and medicine, but also to the development of public policies and the improvement of good governance. The product of technology and its fusion with another industry or field of study, which in this case is telemedicine, proves the importance of expanding society’s views and perspectives on technology as an individual or independent subject or discipline. Through the efforts of the United States government in searching for the most efficient means to resolve the health crisis, the value and contributions of computer technology to the health and wellbeing of the nation’s citizens have been discovered. In addition, the implementation of telemedicine in the country would serve as models or examples to other nations experiencing the same kind of crisis. In this scenario, expanding the limitations of computer technology is necessity for the development of other fields. Reardon, M. (2009). Are the Stars Aligning for Telemedicine’s Success?. Retrieved 20 Jul 2009, from CBS Interactive Inc. Website: http://news. cnet. com/8301-1001_3-10290067-92. html Outsourcing: Increasing Employment Opportunities Due to the global economic crisis, business organizations around the world, including outsourcing companies are expected to lay low and exhibit a downturn on their performance and productivity rates, thus, leading to the increase in unemployment rates. However, the business process outsourcing sector refused to let the current economic crisis slow down the industry. In fact, the industry is expecting that despite global recession, the business process outsourcing sector will still be able to increase the number of jobs in domestic areas wherein work tasks and responsibilities are being outsourced. The role of computer technology in making business process outsourcing possible relates to its contribution to society in terms of the increase in the availability of jobs. The existence of networking capabilities and wireless technology that facilitate communication and help human beings accomplish work tasks more efficiently is the primary reason why large organizations or corporations decided to outsource. Therefore, in a way, even if the increase in jobs in the sector of business process outsourcing does not directly relate to the structure and dynamics of computer technology, the important thing to remember is that computer technology facilitates business process outsourcing. Consequently, the existence of business process outsourcing opens up employment opportunities, especially to individuals in developing nations. In this way, computer technology carries out its responsibility to society by becoming an instrument in the creation employment opportunities. In addition, outsourcing helps the economies of other nations prosper through the influx of remittances from the country wherein the main office of the company is located to other countries who host business process outsourcing. Ferriols, D. (2009). Business Process Outsourcing Sector Expect Increase in Jobs this Year. Retrieved 20 Jul 2009, from The Philippine Star. Website: http://www. philstar. com/Article. aspx? articleid=445862.

Jared Diamonds Views on Environmental Determinism Essay

Many geographers have attempted creating a unified theory explaining why cultures advance much more readily than others. Very few have actually reached mainstream society and even fewer seem reasonable. However, Jared Diamond shines where most do not. His book, Guns, Germs, and Steel, proposes an idea that has long been established called environmental determinism. Most view environmental determinism as a racist theory attributing a peoples’ intelligence only to their oppressive climates and geographical barriers. Diamond instead has created a theory that applies environmental determinism to only a peoples’ technology—not the people themselves. This has given researchers valuable tools that allow them to explain why some nations have†¦show more content†¦The spreading of horses additionally explains how the United States conquered what it did. The New World possessed no horses until the arrival of Europeans, creating an inability to travel, fight, or hunt as efficiently as Europeans before the late 17th century (Diamond 164). Had tribes like the Sioux acquired horses earlier, they may have developed more rapidly and had a better chance thwarting enemy Americans. Nevertheless, because the east-west axis favored the United States both in Eurasia and the New World, the consequences permitted ascension to a world power. While a landmass’s orientation determines its basic resources and geographical advantages, the large societies that this constructs produce the technology. Diamond surmises that increased food production leads to populous nations. He notes that, â€Å"more consumable calories means more people† (Diamond 87). Because the United States obtains food though both trade and agriculture, it has always had an excellent chance to become large and urban. The larger civilization, the easier conquest becomes. In his chapter titled How China Became Chinese, Jared Diamond explains that China has, â€Å"st eamrolled,† neighboring nations so often because they had a, â€Å"head start in food production† (Diamond 332). The United States subjugated their Native American neighbors using the same assets—both livestock and plants. These large societies have always required a government andShow MoreRelatedGuns Germs and Steel Chapter Summary2530 Words   |  11 PagesPrologue: Yali’s Question Jared Diamond has done extensive field work in New Guinea.   His indigenous New Guinean politician friend Yali asked why whites had been so successful and arrived with so much cargo compared to the locals.   Diamond rephrases this question: why did white Eurasians dominate over other cultures by means of superior guns, population-destroying germs, steel, and food-producing capability?   Diamond’s main thesis is that this occurred not because of racial differences in intelligence

DATA AND MEASUREMENT OF VARIABLES WITHIN THE ECONOMY - Free Essay Example

Sample details Pages: 4 Words: 1311 Downloads: 10 Date added: 2017/06/26 Category Economics Essay Type Narrative essay Did you like this example? We form our variables using data derived from the financial statements contained in the Stock Exchange and companys websites. Our sample consists of all Oil and Gas Marketing companies listed with Stock Exchange. Following Table will make you understand about the Variables, Determinants, Measures and their references using the same measure. Don’t waste time! Our writers will create an original "DATA AND MEASUREMENT OF VARIABLES WITHIN THE ECONOMY" essay for you Create order Determinants Measures used Some refrence using the same measures LEV(Leverage) Total Liability Equity Total Assets WaliullahMuhammad Nishat (2008), NikolaosEriotisDimitriosVasiliou and Zoe Ventoura-Neokosmidi(2007,Rajan and Zingales(1995), Shah and Hijaz(2004), SZ(Size) Log of sale Titman and Wassels(1988), DebabrataDatta and BabitaAgarwal (2007), Raul Seppa(2008) PF(Profitability) EBT Total Assets DebabrataDatta and BabitaAgarwal(2007), Rajan and Zingales(1995) DBT_EQT(Debt to Equity Ratio) Total Liability Common Equity Ali Basharat (Lecturer) Air University Islamabad. CR(Current Ratio) Current Assets Current Liability Ali Basharat (Lecturer) Air University Islamabad. TAN(Tangibility) Fixed Assets Total Assets Attaullah Shah and Safiullah Khan( 2007),Titman and Wessels (1988),Rajan and Zingales(1995),Fama and French (2000) In order to comment on the capital structure of Oil and Gas firms in the perspective of the Pakistan economy, it is desirable to take into consideration all the sectors of the economy. Few of them are directly and indirectly keeping in mind this requirement we select five companies, as under this index all the major companies of important segments of the economy are listed. The source of our data is SEC Prowess data base. DEPENDENT AND INDEPENDENT VARIABLES We have taken six variables out of which leverage is taken as a dependent variable. We take the total Debt (Total Liability) to total asset ratio as proxy for Leverage (dependent variable). For potential determinants of leverage, we study five independent variables namely Tangibility, Size, Profitability, Debt to Equity ratio and Current ratio. Explanation of Variables: In their cross-sectional study of the determinants of capital structure, Rajan and Zingales(1995)examine the extent to which, ath the level of the individual firm, leverage may be explained by for key factors, namely, market-to-book ratio i.e. growth, size, profitability, and tangibility. Their regression analysis differ slightly across countries, they appear to uncover some fairly strong conclusion. But our study of capital structure follows the framework of RajanZingles(1995) Shah Hijazi(2005), NikolaosEriotis Zoe Ventoura(2007) and Jeam-Laurent Viviani(2008)that use tangibility of assets, Firm size, Profitabllity. But in our study we have also used two more variable that measure more reasonably leverage of firm i.e Debt to Equity ratio and Current Ratio. DEPENDENT VARIABLE Measure of Leverage (LG) In the literature the term Leverage can be interpreted in different ways. The specific choice of the term leverage depends on the objective of the research. We take leverage as the ratio of total liability to net total assets. Net total assets are the total assets excluding all the fictitious assets and revaluation reserves and debit balance of profit and loss account. One question that arises in this context is whether one should take the book value or the market value of debt. Thies and Klock (1992) and Fama and French (2000) support the consideration of book value of leverage. As the market value of debt is dependent on so many exogenous factors, which are outside the control of an organization, book value better reflects the true value of the firms leverage. So, we take book value of debt (total liability proxy) as well as of net total assets. Leverage refers to the percentage of assets financed by debt. Previous research studies have used different measures of leverage. Frank and Goyal (2003b) state that the difference between a debt ratio based on market value and one based on book values is that the former tends to regard the firms future situation whereas the later reflects the past situation. Fama and French (2002) point out some inconsistencies arising from the use of two different ratios. According to them, both theories (Pecking Order and Static Tradeoff) apply to the debt book value, and there are doubts if the predictions may be extended to the debt market value. Following the previous studies on non-financial Pakistans listed firms by Shah Hijazi (2005) we used the book value measure of leverage. One more consideration in defining the appropriate measure of leverage is to take total debt or only long term debt as a percentage of total assets. Though capital structure theories consider long term debt as a proxy for financial leverage, we use the measure of total debt because in Pakistan firms have mostly short term financing as the average firm size is small. This makes access to capital market difficult in terms of cost and technical difficulties (shah and Hijazi 2005). In Pakistan firms usually prefer short-term borrowing, the reason being that commercial banks are the major lenders and they do not encourage long term loans. Up to 1994 firms did not rely on market based debt; in mid-1994 the government amended the company law to permit companies to raise debt directly from the market in the form of TFC (Term Finance Certificates) Booth et.al. (995) had also mentioned this point that developing countries including Pakistan prefer short term financing than long term financing. INDEPENDENT VARIABLES Tangibility of Assets (TG) Titman and Wessels (1988), Rajan and Zingales (1995) and Fama and French (2000) support the importance of the tangibility (ratio of fixed to total assets) for leverage. The value of collateral of fixed assets for the gearing level of the firm is manifested by the tangibility of that firm. However, the direction in which it influences the level of leverage is not clear by any of these studies. Galai and Masulis (1976), Jensen and Meckling (1976) and Myers (1977) in their papers present the argument that stockholders of levered firms are prone to overinvest that gives rise to the classical conflict between shareholders and bondholders. But if the debt is secured against the fixed assets, the firm is restricted to use the borrowed funds for the same project for which it has borrowed. By this fact, creditors get an improved guarantee of repayment, and thus the chances of recovery are higher. Since this does not happen without collateralization of the fixed assets, the proportion of debt increases with the availability of more fixed assets in the balance sheet of the firm. Hence, the trade-off theory predicts a positive relationship between the tangibility and leverage in any firm. In contrast, the agency cost model predicts a negative relationship of tangibility with leverage in any firm [Grossman and Hart (1982)]. We calculate tangibility by finding out the ratio of the total fixed assets (gross fixed assets excluding intangible assets) and 30 days average market capitalization of the firm. Hypothesis 1: A firm with higher percentage of fixed assets will have higher debt ratio Size (SZ) Titman and Wessels (1988) argue in their paper about the negative relationship between sizes and probability of bankruptcy. Accordingly, trade-off theory predicts an inverse relation between size and bankruptcy and hence positive relationship between size and leverage. On the other hand if we take size as a proxy for information asymmetry then large firms tend to disclose more information about their plans as they are closely watched by the capital Market analysts. So the information asymmetry between the insiders and investors in the capital market is less for large firm. Accordingly, the pecking-order theory predicts a negative relationship between size and leverage. We take natural logarithm of sales as the proxy of size, following Titman and Wessels (1988). Profitability (PF) According to the trade-off theory, there is a positive relationship between profitability and leverage. As the profit of the firm increases, its capacity of bearing the interest cost rises. Secondly, the bankruptcy cost of the larger firm is also less than that of small firm. Third reason is that as the profit of firms increases they feel greater need to have tax shield. So the level of leverage in the capital structure also increases. On the contrary, pecking-order theory